Table of Contents

Preface
Preamble

1. The Fall & rise of Keynesian economics
Part One: Practical
2. Liquidity and financial crises
3. A practical approach to the regulation of risk
4. Can barack obama do it?
5. Useful bubbles
6. unemployment on a world scale
7. International financial liberalisation

Part Two: Analytical
8. The imperfectionists
9. Effective demand & disguised unemployment
10. Theories of value, output and employment
11. Money, capital & forced saving

Part Three: Critical
12. Unemployment & the market mechanism
13. The analytical foundations of monetarism
14. Controversies in the theory of employment
15. is the International Monetary Fund past its sell-by date?

Part four: Historical
16. Keynes's General Theory
17. Keynesian economic theory & European society
18. The gold standard & monetary theory
19. The economic possibilities of capitalism

Bibliography
Index

About the Author

John Eatwell has taught economics at Cambridge since 1970, and became President of Queens' College, Cambridge, in 1997. From 1980 to 1996 he was also a Professor in the Graduate Faculty of the New School for Social Research, New York. He was co-editor of the New Palgrave Dictionary of Economics. Recent books include Global Finance at Risk: The Case for International Regulation, Hard Budgets and Soft States: Social Policy Choices in
Central and Eastern Europe, and Global Governance of Financial Systems: The Legal and Economic Regulation of Systemic Risk. He is a member of the House of Lords.

Murray Milgate is a writer and academic economist best known as co-creator and co-editor of the celebrated New Palgrave Dictionary of Economics and for his work on classical economic thought and Keynesianism. He taught economics at Harvard University and then the University of Cambridge, where he is Fellow and Director of Studies in Economics at Queens' College. He is a past recipient of Columbia University's Eccles Prize for Excellence in Economic Writing (1992). His
many books include: Capital and Employment; The World of Economics; Ricardian Politics; and, most recently, After Adam Smith.

Reviews

"This work restores the sense of the power of the Keynesian tradition of economic analysis and policy-making at a time when, just as with Keynes, the real conditions of global capitalism force recognition of the crisis-prone character of an unbridled market economy and the corresponding need for government to intervene with carefully-designed fiscal, monetary and regulatory controls to keep in check the often reckless 'animal spirits' of the entrepreneurs,
restore balance, and prevent the jobless, powerless, and poor from falling through the cracks. It is written in a fluid style with tightly reasoned arguments engaging both theory and practice and much
practical insight into contemporary problems of the world economy."--Donald J. Harris, Professor Emeritus of Economics, Stanford University
"The Keynesian Revolution may be a distant memory and Keynes little studied now in economics departments or in Treasuries, but the financial crash of 2008 has reminded us why he should be. In this wide-ranging set of essays Eatwell and Milgate show just how supple and penetrating the Keynesian approach to economics can be. They dispel many of the myths that have grown around it, and make a powerful case that the questions posed by Keynes are still fundamental
questions for understanding the modern economy and the policy options open to us."--Andrew Gamble, University of Cambridge